Global Forklift Truck Market to Reach $4.65 Billion by 2030

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Aug 19, 2022, 07:15 ET

DUBLIN, Aug. 19, 2022 /PRNewswire/ -- The "Forklift Truck Market by Power Source, by Class, and by End User - Global Opportunity Analysis and Industry Forecast, 2022 - 2030" report has been added to ResearchAndMarkets.com's offering.

Market Definition:
At an estimated value of over USD 2.06 billion in 2021, the global forklift truck market is predicted to thrive at a CAGR of 9.5% to be valued at USD 4.65 billion. Forklift trucks are powered vehicles designed to move or carry heavy objects over a limited distance. Adoption of forklift trucks is popular among industries affiliated with the loading and unloading of goods.

These vehicles are commonly used in dockyards, warehouses, and recycling factories among others. These vehicles are used with some attachments such as platforms and grippers for efficient handling of goods and are classified based on their weight bearing capacity.

Market Dynamics and Trends
Rising investments by the market players is expected to drive the market growth. Recent developments in the e-commerce business have created a need for bulk warehousing, which in turn has influenced the growth of forklift truck market. Advantages offered by forklift trucks such as time saving and increased efficiency are also expected to boost their adoption in various industries.

Other benefits such as reduced chances of accidents and injuries related to forklifts on work site and rising demand for easy movement and organization of goods are expected to add additional revenue to the forklift truck market. Moreover, technological advancements coupled with the development of infrastructure are expected to further influence market growth. However, high cost of forklift trucks is anticipated to hamper the market growth within the forecast period.

KEY MARKET SEGMENTS:
Global forklift truck market- By power source

IC powered
Electric powered

Global forklift truck market - By class

Class 1
Class 2
Class 3
Class 4
Class 5
others

Global forklift truck market - By end use

Retail and wholesale
Logistics
Automotive
Food industry
Others

Global forklift truck market - by geography

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Rest of Europe
Asia-Pacific
Japan
China
Malaysia
Australia
Rest of Asia-Pacific
RoW
Latin America
Middle East
Africa

Market Dynamics
Drivers

Rise in Investment Across the Infrastructure Development
Expansion of E-Commerce Industry
Benefits Offered by Forklift Trucks

Restraints

High Cost and Safety Issues Associated With Forklift Trucks

Opportunities

Emergence & Proliferation of Hydrogen Fuel Cell Forklifts

Key Topics Covered:

1. Introduction

2. Forklift Truck Market - Executive Summary

3. Market Overview

4. COVID-19 Impact Analysis

5. Market Share Analysis

6. Global Forklift Truck Market, by Class Type

7. Global Forklift Truck Market, by Product

8. Global Forklift Truck Market, by Engine

9. Global Forklift Truck Market, by End-user

10. Global Forklift Truck Market, by Region

11. Company Profiles

Companies Mentioned